This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Monday, December 15, 2008
EUR/USD and Gold; Dec. 15, 2008
Just a quick side note. I have been heavily short gold and have taken a huge pounding lately as gold has rallied ferouciously. Here's one reason: the EUR/USD suprised me and a lot of people in rallying through resistance very strong as you can see from the above 4hr chart. Once the rally exhausts, which should be fairly soon, the EUR/USD will roll over to a new low which is about 1300 pips away! Gold should fall significantly when this happens. The only question in my mind is when?
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